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264 West 115th Street, Manh...

Elysee Investment Company Acquires Harlem Package Deal For $9.5M
SOLDMultiFamily

Elysee Investment Company Acquires Harlem Package Deal For $9.5M

264 West 115th Street, Manhattan, New York, NY, USA

$9,500,000

$198/SF

Building Size

47,878 SF

Asset Type

MultiFamily

Closing

Oct 14, 2021

AI

A package deal in Harlem consisting of six properties has been sold for a total of $9,500,000. The properties are located at 264, 276, and 278 West 115th Street, as well as 2120, 2122, and 2124 Frederick Douglass Boulevard, with a combined square footage of 47,878. The sale price per square foot is $198.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: $9,500,000
  • Market: Harlem

Elysee Investment Company, represented by Avi Dishi, acquired the properties from Yann Geron. The sale was facilitated by brokers from Cushman & Wakefield, including Ian Brooks, Jordan Sutton, Robert Shapiro, and Marquis Campbell. Richard Maltz of Maltz Auctions also played a role in the transaction.

Players

Jordan Sutton

JGS Realty GRP LLC

Broker

$246.4M

vol

33 deals

Broker
Avi Dishi

Avi Dishi

Elysee Investment

Buyer

$255.5M

vol

8 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93